RAEDC to consider 15 ideas to diversify Rockford's economy

The Rockford Area Economic Development Council is meeting with business leaders today to discuss a plan to diversify the regional economy. Here are 15 recommendations.

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Isaac Guerrero

AngelouEconomics has produced a report for the Rockford Area Economic Development Council that outlines strategies to diversify the regional economy. The RAEDC is meeting with business leaders today.

Below are the top 15 priority strategies, according to the Austin, Texas firm, which is among the nation's premier economic development and site selection companies.

Read my story about the study here. Then tell me what you think about these ideas.

Consider the creation of a regional tax-base sharing program that would provide a shared pool of resources for infrastructure and economic development and would also go a long way toward eliminating competition among the Rockford region’s municipalities.

Conduct a thorough analysis to identify the "highest and best use" for all planned industrial parks. Choose the top two sites within the Rockford region for high quality business/industrial parks and work to aggressively develop their infrastructure to ensure that they are shovel-ready.

Develop a long-range strategic plan for Chicago Rockford International Airport (RFD) that sets a visionary, yet realistic, agenda for future infrastructure investments and land use/design elements that focuses primarily on leveraging RFD’s potential for further development as a major goods movement hub.

Continue to build broad-based regional support for passenger rail connections between Chicago and the Rockford region.

Work with the region’s public K-12 schools, EIGERlab, and Rock Valley College Small Business Development Center to integrate stronger business curricula (especially entrepreneurship and international business) and junior achievement programs into the region’s schools.

Leverage public investments along the Rock River to generate private sector-driven urban revitalization centered on the region’s most valuable natural asset.

Consider using incentives to attract a destination project (design/visual arts school, hotel/restaurant/retail complex, etc.) that can serve as a catalyst to spur a greater level of activity along downtown Rockford’s riverfront.

Provide continued support for the JiET-A (Joint Institute of Engineering & Technology | Aerospace) public-private training program to ensure its success in expanding the Rockford region’s pipeline of future skilled aerospace workers.

Become actively involved in goods movement industry organizations and events including the Illinois Trucking Association, the American Trucking Association, the International Council of Supply Chain Management Professionals, and logistics industry associations/conferences.

Work with the Rockford region’s business, government, and community leaders to fund the development or attraction of a design school into downtown Rockford.

Integrate design curriculum in the Rockford region’s K-12 schools as well as Rock Valley Community College, Rockford College, and NIU-Rockford to prepare the region’s future workforce for the design industry.

Establish and support the growth of a mixed-use "Design District" in the zone immediately surrounding the new design school in downtown Rockford that concentrates the region’s design-related educational facilities, provides incubator and prototyping space, houses design studios and office space, and provides live-work housing opportunities for design professionals

Isaac Guerrero: 815-987-1361; iguerrero@rrstar.com; @isaac_rrs

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